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The Financial Times
Legislation on balancing UK’s books
Accounts to be in black most years
Osborne will stake his reputation today on achieving budget surpluses for years to come, enshrining his pledge to pay down debt during “normal” years in legislation this autumn.
Companies and Markets
Barra says group has sufficient scale
Response dashes Marchionne hopes
General Motors’ chief executive has rejected calls for a merger of the world’s third largest carmaker by sales with its crosstown rival Fiat Chrysler Automobiles.
Mary Barra told the annual gathering of GM shareholders in Detroit that the company had received a letter from the management of Fiat Chrysler. The approach suggested that the two companies meet to discuss a potential deal to create a new number one in the industry.
US shale producers expected to emerge as targets in new round of industry deals
Biggest gain in month to date after Riyadh raises output to meet demand
Oil posted its biggest gain in the month to date after a forecast showed US shale oil output would fall next month and Saudi Arabia said it had raised its output in response to stronger demand.
The Daily Telegraph
Car hire firms have told Britons renting a vehicle abroad that they will accept a printed copy of the driver’s license summary, after a DVLA rule change caused chaos.
Problems arose after the paper counterpart of the license, which lists endorsements, was replaced with an online data-base. Customers collecting cars from rental desks now need an access code so hire companies can check the driver’s details.
The EU’s importance as a British trade destination lessened in April, as its share of the UK’s goods exports fell to a record low.
PM’s decision to use Civil Service in EU referendum campaign angers backbenchers
David Cameron was accused by his own MPs last night of trying to load the rules of the European Union referendum to produce a vote in favour of staying in.
Britain’s global trade deficit narrowed more than expected in April, as exports rose. The goods trade gap narrowed to £8.6bn from £10.7bn in March- lower than economists’ forecasts of £9.9bn- according to the Office for National Statistics.
The Daily Mail
Paying for car insurance in monthly instalments costs the average driver £62 a year- adding 11pc to the typical policy